1. Determine your level of integrity about money. Are you
being honest with yourself and with your partner (if applicable)
about your personal finances? Do you spend money, and then hide the
evidence? Do you try to "justify" how the money is spent? Having
integrity here means that you feel honest with yourself about how
your money is made and spent. It means you pay bills before they are
due and facing your financial fears.
2. Determine your relationship with money. Ask yourself some
difficult questions. Are you spending money to impress or control
people, buy love, or to give yourself a rush? Some people end up
with no cash at the end of the month because they don't take any
personal responsibility for how they spend and invest their money.
If you know where your money is going, you can make decisions based
on reality and not the fears and doubts that come from the past.
3. Put a leash on the expenses that are costing you money but
aren't "REAL" expenses. Would you tear up $400 and throw it into the
garbage? Of course not! Yet you throw away the same amount of money
on magazines you subscribe to but never read, phone services you
don't use, cable channels you don't watch, gym memberships you don't
attend, etc. Couldn't you use that money year on something that
might actually bring joy to your life or help secure your future?
Don't continue this mistake; put a leash on harmful long-term
spending like this that creeps up on you and eats your money
straight from the source.
4. Define a specific, measurable goal. Don't settle for "save
for down payment". Decide how much you need and when you need it by
and how much you need to save each week to get there. For example,
if you need $10,000 for a down payment and you want a new house by
this time next year, you will need to save $192.30/ week ($10,000/52
weeks). Next determine how that will be saved, either by automatic
withdrawal, writing out a weekly check, etc.
5. Don't spend more than you make. It sounds simple, but most
people just plain ignore it. At that point it is not a "money"
problem; it is a "lifestyle" problem. You must coordinate your
lifestyle to attain whatever goal you want, whether it is saving for
a large investment, eating less food, or learning a new hobby. One
small step really does make a difference to your next larger step
taken.
try these things and you will see, being in control of your finances
is truly empowering!
have
the courage to question & challenge the status quo... refuse to
accept "traditional" thinking and answers as fact....
~Kimlee
